Premium

Lulu Group’s Yusuff Ali clears loan of Kerala woman who was evicted from home

Billionaire M A Yusuff Ali also provided the woman with Rs 10 lakh financial assistance to start a fixed deposit.

Lulu Group chairman MA Yusuff Ali helps a Kerala woman clear her loan (Image source: @yusuffali.ma/Instagram)Lulu Group chairman MA Yusuff Ali helps a Kerala woman clear her loan (Image source: @yusuffali.ma/Instagram)

Lulu Group chairman M A Yusuff Ali has become the ‘guardian angel’ to Kerala woman Sandhya and her children who were evicted from their house in Ernakulam district due to an unpaid loan of Rs 8 lakh. The billionaire directed the Lulu Group to clear Sandhya’s loan and offered her Rs 10 lakh to open a fixed deposit.

According to Samayam Malayalam, Sandhya and her husband took a loan of Rs 4 lakh from Manappuram Finance, a Kerala-based Non-Banking Financial Company (NBFC), in 2019 to build a home in North Paravur. However, the repayment stopped when her husband abandoned the family in 2021, and the loan amount surged to nearly Rs 8 lakh with interest.

Sandhya, who works in a shop with a monthly income of around Rs 9,000, was not in a position to clear the loan for two years.

Story continues below this ad

One day, while she returned home after work, the private financial institution had replaced her locks and forbid her from entering the house. She and her children were allegedly prevented from taking their belongings.

The news of Sandhya’s plight caught the attention of Yusuff Ali, who directed his team to repay the loan and Sandhya got back the keys to her house.

Latest Comment
Post Comment
Read Comments
Advertisement
Advertisement
Advertisement
Advertisement